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Mortgage Relief: How to Defer Mortgage Payments?
You can get mortgage relief by asking your bank to defer your payments. Because of the COVID-19 pandemic, you, like many Canadians, may be suffering from loss of wages, salary or business, if you're an owner of a small business. Canadian banks are prepared to help you...
Your Credit Score and How Is It Calculated
Every time you apply for a home mortgage, a car purchase and nearly all other types of loans, lenders will use your credit score to determine if you qualify. Creditors need to know how much of a risk you are—in other words, how likely you are to repay the money they...
No Change in Rates – Bank of Canada Announcement
The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. https://vimeo.com/304621266 The global economic expansion is moderating largely as expected, but...
The New USMCA Trade Deal and Mortgages
The following is an excerpt from the VERICO Economic Report written by Michael Campbell What did we get for the government’s efforts to slow the market? So what does a new trade agreement between Canada, the US and Mexico mean for Canadians? In a nutshell, higher...
How to Repair Your Credit
Are you thinking of buying a condo or a house in the near future? If you know you have poor credit, you need to know how to repair credit.You may have been told that your have poor credit, which is anything under 500, too low for most lenders to approve...
Bank of Canada Rate Increase (Oct 2018)
The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. [Variable rate mortgages are immediately affected as chartered banks and other lenders raised their...
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